In Mumbai and Kolkata, 10 grams of 24-carat gold was priced at Rs 1,61,960, while the rate in Chennai stood higher at Rs 1,63,920; in the national capital, Delhi, the price of 10 grams of 24-carat gold was recorded at Rs 1,62,110
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Gold prices edged up marginally in early trade on Tuesday, with the price of 24-carat gold rising by Rs 10 to Rs 1,61,960 per 10 grams, according to official data. Silver prices also saw an uptick, gaining Rs 100 to trade at Rs 3,60,100 per kilogram.
The price of 22-carat gold increased by Rs 10 as well, with 10 grams of the metal selling at Rs 1,48,460.
In Mumbai and Kolkata, 10 grams of 24-carat gold was priced at Rs 1,61,960, while the rate in Chennai stood higher at Rs 1,63,920.
In the national capital, Delhi, the price of 10 grams of 24-carat gold was recorded at Rs 1,62,110.
For 22-carat gold, the price in Mumbai stood at Rs 1,48,460, which was the same in Kolkata, Bengaluru and Hyderabad, while Chennai recorded a higher rate of Rs 1,50,260.
In Delhi, 10 grams of 22-carat gold was priced at Rs 1,48,610.
Meanwhile, the price of silver per kilogram stood at Rs 3,60,100 in Delhi, Kolkata and Mumbai, while Chennai recorded a higher rate of Rs 3,75,100 per kilogram.
Gold, silver continue to touch new highs as US dollar weakens
Meanwhile, gold and silver prices surged to record highs on Tuesday, amid persistent weakness in the US dollar and expectations of rate cuts by the US Federal Reserve.
MCX gold February futures rose 1.48 per cent to Rs 1,58,343 per 10 grams. Meanwhile, MCX silver March futures rose 6.56 per cent to Rs 3,56,670 per kg.
Earlier in the day, gold had peaked to Rs 1,59,820 per 10 grams, up 2.4 per cent, before profit-booking eased the price level.
International markets also saw gold and silver touching record highs, as geopolitical risks drove investors to safe-haven assets. Renewed fears of a government shutdown in the US and President Donald Trump's new threats of 25 per cent tariffs on South Korean automobiles, lumber, and pharmaceutical imports added fuel to trade tensions. Trump also warned Canada of a 100 per cent tariff if it makes a deal with China.
US gold futures April contracts rose around 1 per cent to USD 5,113.70 per troy ounce as the dollar index eased by 0.1 per cent, making bullion cheaper in overseas currencies.
Persistent safe-haven demand, steady central-bank accumulation, and expectations of accommodative global monetary conditions continue to underpin prices.
COMEX Silver has surged beyond the USD 99 mark, registering fresh lifetime highs.
Meanwhile, the two-day Federal Open Market Committee (FOMC) in the US this week is expected to hold interest rates steady but traders expect at least two rate cuts later in the year.
Silver's sharp surge from Rs 60,000 to Rs 3,20,000 could lead to a phase of consolidation at elevated levels or rebalancing by market participants becomes more likely, according to a recent report.
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